4 Terrific Work Benefits That Help You Pay Off Your Student Loans

Niko Lalos on 16 January 2019

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Although some of these benefits are newer and not very common, they are some of the most favored benefits as the new year dawns. Likewise, some of these benefits were still new for 2018, but the expected outlook for 2019 is that many of these benefits will become more frequent. More and more people are noticing benefits like these are ample and advantageous. 

  1. Student Loan Assistance 

 Currently, only some companies offer student loan assistance, making it more of a rare benefit relative to the average benefits package. Student loan assistance provided by employers is a work benefit that suggests extra pay is granted to workers with student debt. Usually, this extra pay from student loan assistance is extended through recurring payments to the student loan servicer, however, it is possible that the benefit is awarded in a one-time payment basis. 

2. Pecuniary Counseling

 Companies are beginning to see the positive ripples that come with implementing pecuniary counselling, or financial coaching. By implementing the necessary education tools, employees are able to take control of their finances. By providing financial education as a benefit, different tools like online classes, webinars, and other resources are conveniently distributed throughout the company to those seeking guidance when trudged with student loans. 

3. Tuition Stipends or Reimbursement

 Many enterprises are seeing the advantages of having employees with more skills and training. In order to stay highly competitive and push the limits, many employers offer stipends or reimbursements for going back to school to receive more education. Reimbursement and stipend benefits are definitely one of the more common benefits you can find in the workplace today. It is common because a symbiotic relationship is created between the company and the employee, a company gains a more accomplished individual while the employee gains affordable knowledge and experience. 

4. Bonuses

 One strategy that some people often overlook is efficiently using their bonuses to pay down their student debt. Although many would rather use these extra earnings for other things, using your bonuses to pay off your student loans is an effective way to the monkey off your back since extra compensation is yielded from the same amount of work. 

Thoughts? Email me, I’d love to talk more. 

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